John Lewis is set to undergo a radical overhaul of its stores in a bid to combat falling sales and profit decline. According to The Daily Mail, the department store retailer is planning to turn 15 of its existing shops as “pilot stores” from this September. These stores will experiment with events, classes, personal stylists and front-of-house concierge services
But second quarter comp sales are set to disappoint, some analysts say, as apparel and department stores continue to struggle.
The John Lewis Partnership has announced the appointment of Andy Martin to the board as a non-executive director. He has also been appointed as the chair of the partnership’s audit and risk committee. Martin succeeds Baroness Sarah Hogg who joined the partnership board in 2011 and whose term of office ended on June 30
John Lewis has unveiled its biggest-ever investment in fashion to date, which forms part of the department store’s bid to grow a £500 million own-brand fashion business. Created by the in-house John Lewis & Partners design studio team and label, the new fashion collection will consist of 300 designs. READ MORE: John Lewis Partnership issues profit warning amid Waitrose closures John Lewis trials buy-back clothing scheme to cut landfill waste John Lewis & Waitrose to anchor £1.4bn Westfield Croydon The first collection, for the autumn/winter season, features 800 womenswear pieces, handbags and accessories and goes on sale on September 4
The union representing Marks & Spencer staff has expressed shock at news that the retailer’s bosses could decide to close even more stores and jobs cuts as a result. Speaking to shareholders at the AGM on Tuesday, M&S chairman Archie Normal and chief executive Steve Rowe both hinted there could be even more store closures as the bellwether retailer powers on with its radical turnaround scheme
Marks & Spencer has seen short selling of its stock skyrocket to record levels following last week’s profit warning from its rival John Lewis. Both public and private investors have shorted a collective £800 million in M&S stock, a practice which allows traders to cash in on a company they believe is about to experience a sharp drop in share values.
Harrods’ chief merchant Helen David has announced her departure from the department store after a decade. The retailer said David felt it was the right time to “explore other opportunities” and has not yet revealed whether it would directly replace her or which candidates might be considered. READ MORE: Harrods overhauls marketing and digital leadership During her tenure, David is credited with driving forward major developments like Harrods’ luxury jewellery refurbishment, its Superbrands and Mini Superbrands areas, alongside its Shoe Heaven footwear area
House of Fraser is set to renew its product and trade strategy, whereby it will shift its focus to “offer the best selection of contemporary brands”. The beleaguered department store retailer said the refresh marks a significant step in its overall transformation strategy, and will place more emphasis on exclusive products and partnerships as well as trend agility
The discount sector is still hot, but a good economy, the pressure to sell online and the decline of department stores bring new challenges.
John Lewis has commenced a trial for a buy-back service that allows customers to sell unwanted clothes regardless of condition back to the department store to help reduce landfill waste. More than 100 customers are currently trying out the scheme, which aims to cut UK landfill waste by about 300,000 tonnes each year. READ MORE: John Lewis & Waitrose to anchor £1.4bn Westfield Croydon John Lewis signs up for £1.4bn Brent Cross expansion John Lewis reveals “better jobs” supplier trial Using an app, customers can select the products they want to sell and are immediately shown the amount they can receive for them